KP govt made safe heaven for local, foreign investors: CM Khattak

PESHAWAR: Chief Minister Khyber Pakhtunkhwa Pervez Khattak while lauding Asian Infrastructure Investment Bank (AIIB) investment in the province has said that the Government has undertaken a number of drastic steps for the facilitation of local and foreign investors, overall generations and economic growth of the province and the country. The Chief Minister expressed these views while chairing a meeting with representative delegation of AIIB which called on him today.He reminded that Khyber Pakhtunkhwa Government was providing attractive incentives to the investors under its comprehensive Investment and Industrial Policy. The Khyber Pakhtunkhwa has become a feasible place for industrial and commerce activities. He reiterated the pledge of his Government that fool proof security was being guaranteed to investors as well as their investment and hence there was no issue of security anywhere in the Province. Provincial Government has introduced revolutionary reforms during last four years to materialize the agenda of change as per manifesto of the PTI wherein over 200 laws and amendments have been enacted to ensure good governance and transparency at all levels, he added.He claimed that 70% of the Education reforms and standardization of schools has been completed including covering the missing facilities in the educational institutions so that the children of poor could also be able to attain quality education and serve the nation and country. The delegation was also proposed some feasible and readily available projects for the immediate investment and with prospects of high returns. The meeting was told that Provincial Government was constructing 13 small dams with estimated cost of Rs. 20725 million that would yield an income of Rs.4253 million annually. The internal economic rate of its return is estimated as 13.19% while the execution period was up to 5 years. It was told that these projects would bring additional land of 59174 acres under cultivation besides provision of potable water and other social and economic benefits as well as protection of fertile lands from floods. It was further told that completion of 3444 km canal patrol roads would further irrigate 1.445 million acres of land. Its estimated cost is Rs. 26.16 billion while its completion would facilitate approximately 10.25 million population. Similarly, about 0.35 million local population would benefit from Changla Gali Islamabad Dhamkial road project to be completed with estimated cost of Rs. 1988.223 million. Annual income of US dollars 1.2 million was expected from this project. Its payback period is about 15 years. Its PC-I has been prepared. Similarly, there was vast capacity of investment in rail network under CPEC sector. Likewise construction of grid station and transmission line in Chitral and hydel generation projects in other districts could be executed with investment point of view.The meeting was further told that working group has been constituted comprising representatives of all the concerned departments for close liaison with Asian Infrastructure Investment Bank. The delegation showed willingness for investment in Changla Gali Islamabad road, construction of small dams, solarization of divisional and district headquarters offices, Chitral grid station, transmission lines, infrastructure development and some other proposed projects and sought detailed list of all the readily available projects for execution.Chief Minister assured that provincial government would provide all facilities to the investors under one window operation. He said provincial government wanted to complete all such joint venture with full speed. He said there were a number of identified and feasible projects with highly payback capacity. He said provincial government has planned 4000 megawatt electricity in the province. He said projects of 2000 megawatt power generation were part of CPEC while agreements have also been signed with FWO for construction of vital power generation projects in Chitral. Work on 356 small hydel power projects was in full swing and 214 of them were completed and being handed over to the respective communities. He said a total of 10000 megawatt power generation potential existed only in Chitral.Referring to the law and order situation in the province, Pervez Khattak said that security has become a non issue in our province adding that situation was quite different in the province than that of the past. Khyber Pakhtunkhwa has become the most feasible and safest region for investment due to effective border management and other related measures. He said even FATA would become cradle of peace and prosperity after its inclusion in Khyber Pakhtunkhwa in the near future that would also open new avenues of investment and opportunities in the entire region.